🌞STKDAO Crypto Financial Report — 2025.11.25

1. The European Central Bank warns of the risks of cross-border regulatory arbitrage for stablecoins and calls for a global unified regulatory framework;

2. The Japanese Financial Services Agency plans to require cryptocurrency exchanges to hold responsible reserves;

3. Senator Lummis: JPMorgan's attack on Bitcoin companies undermines trust in traditional banks;

4. China's Bitcoin mining market share has quietly recovered to third place globally;

5. The UAE & China complete their first cross-border payment using the digital dirham CBDC;

6. Google plans to sell TPU directly to Meta, potentially further eroding Nvidia's market;

7. Amazon announces a $50 billion investment in AI and supercomputing infrastructure in the United States;

8. Crypto wallet company Exodus acquires Baanx and Monavate's parent company W3C for $175 million;

9. Circle: The payment network now supports the Uniswap Permit2 new process, facilitating on-chain payment integration for developers;

10. Nasdaq-listed Enlivex plans to raise $212 million to establish a treasury for the Rain token.

📌 Summary:

Recently, Morgan has been in a dispute with MicroStrategy, which faces pressure to be removed from the MSCI index. Morgan asserts that if removed, those index funds will have to forcibly sell the stocks of the strategy. It points out that if other major index providers follow MSCI's approach, the total potential outflow of passive funds could reach $8.8 billion to $11.6 billion.

China's Bitcoin mining market share has quietly recovered to third place globally, with mining farms mainly concentrated in Xinjiang. The Energy Bureau has also released data up to the end of October, showing that the national cumulative installed power generation capacity has increased by 17.3% year-on-year. Therefore, before the domestic computing power information center is established, the extra electricity transportation difficulties make it reasonable to use it for mining.

Google's stock price reached a new high yesterday, driving a surge across the entire U.S. stock market. The launch of Gemini3 is indeed impressive. There had been discussions that Google would take the baton of AI narrative from Nvidia. The domestic counterpart is Alibaba's Qianwen, and these two companies are highly likely to open the door to AGI general-purpose AI.